New build homes

A new build home, with the mortgage planned around the builder’s timetable.

Reservation deadlines, an offer that has to last until the build is finished, incentives a lender counts differently — we plan for all of it before you reserve, anywhere in the UK.

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You can choose your own adviser

Your rights when you reserve

Many developers will point you to a broker or solicitor they work with. You are free to use them — and equally free not to. Developers signed up to the industry codes have to respect that choice.

Your choice of adviser

Developers registered with the New Homes Quality Code must make clear you can choose your own advisers, cannot tie an incentive to using the one they recommend, and must tell you in writing about any referral fee they receive.

Time to think

Both industry codes give you a cooling-off period of at least 14 days after reserving, with the reservation fee refunded if you pull out in that time. Under the New Homes Quality Code, exchange cannot be required sooner than six weeks after reservation.

No pressure selling

The codes ban high-pressure sales. Under the New Homes Quality Code, a time-limited offer must give you at least seven days to consider it.

Which protections apply depends on whether your developer is registered with the New Homes Quality Code or the Consumer Code for Home Builders. Ask the sales office which one they follow — and read the reservation agreement before you sign it.

What is different about a new build mortgage

Six things to plan for

The offer has to outlast the build

Mortgage offers on new builds typically run six to nine months, depending on the lender, and some can be extended. An extension can mean fresh credit and affordability checks and a new valuation. We match the lender to the build date, not the other way round.

Incentives are counted

Every incentive — cashback, paid stamp duty, free extras — goes on a standard disclosure form the lender sees. Many lenders accept incentives up to around five per cent of the price and deduct anything above that before working out what they will lend.

Houses and flats are treated differently

Lenders often lend less against a new build flat than a new build house, so the deposit you need can be higher for a flat. We check this before you reserve, not after.

A warranty is required

Lenders expect a recognised ten-year new home warranty, such as NHBC, Premier Guarantee or LABC Warranty. Smaller developments may use a Professional Consultant’s Certificate instead. Worth confirming at the sales office on day one.

The valuation may come in lower

The lender’s valuer looks at what the home is worth, not what it costs new. If the valuation is below the price, the gap usually has to come from your own money. We talk through that risk before you commit.

Completion can come quickly

When the home is finished the developer issues a notice to complete, often at short notice. Your mortgage offer, deposit and buildings insurance need to be ready to go before that notice lands.

How a new build purchase runs

Seven stages

Before you reserve
We check what you can borrow on this type of property, whether the lenders that suit you accept the incentives on offer, and whether an offer will last until the expected build date. Then you know the numbers work before any money changes hands.
Reservation
You pay the reservation fee and sign the reservation agreement. Your cooling-off period starts here. We run a decision in principle straight away if it is not already done.
Application and valuation
We recommend the lender in writing, submit the application and deal with underwriter questions. The valuer inspects the plot or the show home.
Exchange
Your solicitor checks the contract, the warranty and the tenure. You pay your exchange deposit and the purchase becomes binding. In Scotland the equivalent point is the conclusion of missives.
The build
We keep an eye on the build date against the offer expiry. If the build slips, we deal with the extension or a fresh application before it becomes urgent.
Notice to complete
The developer confirms the home is finished. Arrange a pre-completion inspection if your developer offers one, and make sure buildings insurance is in place.
Keys, then snagging
Report defects to the developer in writing. Developers registered with the New Homes Quality Code must provide at least two years of after-sales service. We come back to you before your mortgage deal ends.

Wherever in the UK you are buying

Four nations, four sets of rules

England

First-time buyers pay no stamp duty up to £300,000, with relief on purchases up to £500,000. Shared Ownership is available on many new developments, and First Homes (a discount of 30 to 50 per cent for eligible local buyers) on selected sites where the council requires it. The government-backed Freedom to Buy scheme supports lending to buyers with smaller deposits. Some new build houses are still sold leasehold or with estate charges — ask your solicitor to check.

Wales

Land Transaction Tax starts at £225,000 and there is no first-time buyer relief. Help to Buy – Wales offers an equity loan of up to 20 per cent on new builds up to £300,000 from registered builders, with applications to be submitted by 31 March 2027. Shared Ownership – Wales is also available.

Scotland

Land and Buildings Transaction Tax starts at £145,000, or £175,000 for first-time buyers. New builds are usually sold on the builder’s own missives, which become binding when accepted — so the mortgage needs to be arranged first. No Home Report is needed for a new build. Shared equity schemes and the First Homes Fund (up to £10,000 for first-time buyers on homes up to £300,000) may help.

Northern Ireland

Stamp duty works as in England. The Co-Ownership scheme lets you buy between 50 and 90 per cent of a new build worth up to £230,000 and rent the rest, buying more later. Our advisers cover Northern Ireland purchases in full.

Tax bands and scheme terms checked September 2026. They change, and each scheme has its own eligibility rules — we confirm the current position for your purchase before you rely on it. Try our stamp duty calculator for England, Wales and Scotland.

Asked by new build buyers

Questions

Do I have to use the developer’s recommended broker?

No. You can use them if you wish, but you are free to choose. Developers registered with the New Homes Quality Code must tell you so, and must disclose in writing any fee they receive for the referral.

What happens if the build runs late?

If completion looks likely to fall after your offer expires, we ask the lender for an extension or arrange a fresh application in good time. Either way, expect updated checks, and possibly a new valuation.

Should I take the incentive or ask for a lower price?

Ask about both. A lender treats a price reduction and a cashback or paid-for extras differently, so we check how each option affects what you can borrow and what you actually pay.

Is Help to Buy still available?

The Help to Buy equity loan in England closed in 2023, and Help to Buy (Scotland) has also closed. Help to Buy – Wales is still open for applications submitted by 31 March 2027. Other schemes are listed above for each nation.

Can I buy off-plan?

Yes. Buying before the home is built means a longer gap between application and completion, so the lender’s offer period matters more. We plan the timing with you from the start.

Do you arrange the insurance too?

Buildings insurance needs to be in place from completion on a new build, and we can arrange it. We will also talk you through protection so the mortgage is covered if the worst happened.

Talk to us before you reserve.

One conversation tells you what you can borrow on the plot you like, and whether the incentives and timescales work for a lender. It costs nothing and leaves no mark on your credit file.